Feds creating new sub-prime mortgage market

Remember how all those greedy banks were blamed for creating the housing

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bubble because they too easily issued mortgages to families that couldn't afford them? And how we all should have learned the lesson of how easy credit caused the recession?

Well, get this. The Federal Housing Administration now is continuing the same kind of sub-prime mortgage policies that brought this disaster down on us in the first place. As usual, government is the last to learn. What is it with these people?

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    Chicago Tribune contributing op-ed columnist and author of forthcoming historical novel, "Madness: The War of 1812." Reporter, editor and columnist for Chicago Sun-Times and Chicago Daily News. Freelance writer and editor.

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